White Center project helped by federal loan

The King County Council on Monday accepted a $6.25 million federal loan to help build a retail plaza in White Center.

The legislation authorizes the county executive to borrow the money from the Department of Housing and Urban Development and re-lend those funds to the White Center Investment Fund, LLC.

The investment Fund would be used to to leverage the additional funding needed to complete a new 26,500 square foot retail/office plaza near Greenbridge. Greenbridge is a mixed-income community built on the site of the former Park Lake Homes, the King County Housing Authority’s oldest and largest public housing development

The project would also be eligible for a federal tax credit, which officials hope will help defray the overall cost of the $11 million project.